The compliance with the OPEC+ deal on oil production cuts reached a record 127% in January, the International Energy Agency (IEA) said in its February report published on Friday, APA-Economics reports.
"Compliance with the OPEC+ agreement reached 127% during January, the highest since record cuts were enforced in May 2020.
Production of crude from OPEC countries increased by 130 kb/d to 28.1 mb/d in January. As for the alliance's non-OPEC members, the output of crude eased 40 kb/d to 15.55 mb/d," the IEA said.